Key Price Breakout Sets Dogecoin On 153% Rally To Clear $0.65 – Details

Dogecoin’s price action in recent days has been defined by steady higher lows and attempts to break above $0.25. The meme coin has managed to maintain bullish momentum in the past 24 hours after ending September ￰0￱ recent move has kept Dogecoin’s uptrend intact on the daily chart, and according to technical analysis shared on the social media platform X by analyst Javon Marks, this structure could be setting the stage for a powerful upward ￰1￱ Reading: Bitcoin Rockets Past $119K, Analysts Now Eye $130K Target Breakout Structure And Higher Lows According to Marks, Dogecoin’s current price formation could be the early stages of a massive rally that carries the meme coin to $0.65 in a quick ￰2￱ prediction is based off a clear sequence of higher lows (HL) and higher highs that has been forming on the Dogecoin price ￰3￱ formation is on the 5-day candlestick timeframe chart, and it goes as far back as the 2022 bear ￰4￱ first higher low started from the capitulation low in 2022 and continued through 2023 into ￰5￱ higher low shows growing buyer interest after every correction, which is a sign of bullish continuation on higher ￰6￱ most recent example came during September’s downturn, when Dogecoin found a strong support at $0.22.

Rather than breaking down further, the price rebounded from this level to create yet another higher low in the ￰7￱ response was important because it confirmed that Dogecoin’s uptrend was still ￰8￱ points out that this upward structure of higher lows means that another wave up is likely to be in the works. Therefore, the current phase between $0.22 and $0.25 now is more of a build-up before the next explosive move ￰9￱ 5-day price chart: Javon Marks on X The Case For A 153% Rally To $0.6533 Marks’ projection goes beyond a simple ￰10￱ analyst projected Dogecoin to go on to create another higher high in the coming weeks and ￰11￱ wave up could be an over 153% run from Dogecoin’s current price ￰12￱ chart identifies $0.6533 as the immediate target for this ￰13￱ this level would require Dogecoin to more than double from its current price, but this is not unprecedented given its price ￰14￱ Dogecoin were to reach the $0.6533 breakout target, it would be its strongest bullish rally since early 2021.

However, this is still below its 2021 all-time high of $0.7316, meaning there’s still room for further upside if bullish conditions persist. Interestingly, the analysis also noted that Dogecoin might extend the rally above the $1 threshold. Particularly, the second price target is at $1.25711, although this may seem far-fetched in the short ￰15￱ Reading: Space Meets Crypto—Spacecoin Executes 1st Blockchain Transaction Beyond Earth At the time of writing, Dogecoin is trading at $0.2525, down by 1.7% in the past 24 hours, but up by 10% in a seven-day ￰16￱ image from Pixabay, chart from TradingView